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Read the included case and answer the questions at the end of the case( below). Your response should be written in essay form with APA6-style Level 1 headings to differentiate your answer for each question.
Use at least one outside resource which you must cite and list in your list of references using APA6 format.
Explain how each of the events described above affected the world market for oil, as summarized by Exhibits 1 and 2. Specifically, use a supply and demand diagram to explain:
(a) Why the price of oil rose sharply in 1973, 1979, and 1990.
(b) Why the price fell between 1980 and 1982, and again between 1982 and 1985.


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